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9 <br />Financial Issues, continued <br />Some service plan elements related to the statutory finding <br />Specificity of financial plan <br />Plan should be specific and mandatory in nature <br />All proposed indebtedness should be described with reasonable specificity <br />No financing transactions structured other than as shown in the financial <br />plan should be considered authorized <br />Financial plan is a snapshot of the market at the time of service plan <br />approval, but bonds should be structured and issued as reflected in the <br />financial plan as closely as possible <br />City Council could require an updated financial plan if bonds are to be <br />structured differently (i.e., issuing subordinate bonds) <br />Financial Issues, continued <br />Debt restrictions <br />Maximum dollar amount of debt <br />Maximum term for all debt <br />Requirements that development reach a certain point before district <br />incurs financial obligations to third parties <br />Refunding debt restrictions <br />Developer contribution toward public improvements <br />Restrictions on developer debt and “cash flow bonds” <br />Prohibit or regulate issuance <br />Prohibit compounding of interest <br />23